voestalpine Acquires German Wire Drawing Company

2006-07-28 |

The Division Railway Systems of the listed voestalpine AG expands its activities in the wire segment through acquisition of a wire drawing plant in Germany.

voestalpine Austria Draht GmbH, a company of voestalpine – Division Railway Systems, will acquire, subject to approval from the antitrust authorities, the entire number of shares in Drahtwerk und Stahlhandel Finsterwalde GmbH. Together with its subsidiaries, the company, which is domiciled in the city of Finsterwalde in the south of the German federal state Brandenburg, produces sales of EUR 90 million and employs some 200 staff.

Both voestalpine Austria Draht GmbH and Drahtwerk und Stahlhandel Finsterwalde GmbH rank among the quality leaders in the field of drawn cold extrusion wire products. The acquisition advances the company’s strategic goal of further developing the high-quality segment and expanding its own value-added chain. Drawn cold extrusion wire products are mostly used in the automotive supply industry. The circle of customers also includes companies from the fastening technology and construction industries.